Is The Bitcoin Bullseason Back On?
From REUTERS: Bitcoin surged 9.83 % to $39,035.47 at 22:05 GMT on Sunday, adding $3,492.71 to its previous close.
It's been pretty confusing trying to keep up with recent crypto news, with Elon and China FUD, questions about environmental impacts of Bitcoin mining, June so far has been terrible when I look at my crypto wallets.
On a quiet, hot, Sunday afternoon, BTC made a move that looked stronger than we have seen recently.
With Inflation numbers frightening mainstream markets and those holding USD, and the adoption of BTC by El Salvador, is the good news starting to take back the media cycle.
I wonder how many have noticed BTC is now a frequent topic on mainstream financial news and growing in reputation. The fact it is big enough and known enough to have this much FUD coming from reputable places is more of a positive than a negative if you understand how brand recognition works.
I truly think much of this run up and the run down were fueled more by emotion and speculation than usability, but adoption and acceptance is growing.
Compared to 2017, when demand came from the retail market (this will eventually happen again, of course), the new demand is coming from institutional swmand, completely flying under the radar for many people; this looks set to continue through 2021.
It might take some time to dig out of this whole, but I expect to see new all time highs in 2021
Are you hodling or selling?
Posted Using LeoFinance Beta
